This handy chart from the Treasury Department illustrates the recovery in employment since the 2003 tax cuts - which, unlike the original 2001 cuts, were phased in imemdiately and thus could immediately affect incentives - quite nicely.

It factors in the fact that we're gaining more jobs than we're losing. There are always people losing jobs to layoffs, outsourcing, etc. even in the best economic times - point me to a time when that wasn't true. The overall growth in employment means more new jobs are being created than the ones that are disappearing.

Tax cuts are easy. Budget cuts are hard. When GWB makes even a token effort towards controlling federal spending, then we can talk about whether he deserves an iota of credit for what I hope to God is a rebounding economy.

Did you see how GWB's former budget analyst came out and declared the Medicare Drug Spending bill ill-advised? No kidding! But think of the money Tom Delay Inc. made off its passage.

Nice site by the way. Lot of interesting topics. I'll try not to scare off any of the regulars. Keep up the good work!

Posted by: pat_rick at
December 3, 2005 4:37 PM

Crank

In no way is our country gaining jobs. Almost every entry level, callcenter and research IT job is done overseas. Please do some research. Do you know it cost 300 dollars a month in India to do the most of the jobs I listed above. Keep your head in the sand and trust that graph.
One day soon your firm will start sending work overseas then maybe you will understand. How much do your paralegals make? I will guess a ton more that 300 dollars a month. It will increase your bonus but destroy the American middle class.

Posted by: Clayton Bigsby at
December 4, 2005 3:42 AM

CB,

Sending low paying, menial jobs overseas is a good thing, so long as we replace them with high paying skilled jobs. This is exactly what occurred in the nineties with the tech boom.

But you are correct to be concerned that soon no jobs will be left . Well that's why we have to educate the hell out of them and make our country as efficient as possible. And invest in technology, research and development.

I still have faith in the good old US of A, but the world is getting more competitive each year. We can' take a lot of things for granted anymore.

I'd like to see President Oops talk seriously about reforming health care (then again maybe its best if he left it alone and lets hope the next Administration is reality based).

So, in conclusion, there's hope for us yet. So long as the next big thing comes out of this country and not India. If history is any sign, we should be ok.